Fusion Testing
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TC-08116 : Automatic Deletion of prior Period End Journals when new Journal Entry is created and backdated to closed period
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Process Area : F&A
Prerequisites
Period End Journals feature has been run for the given December accounting period and has subsequently been closed Period is now reopened Create an applicable adjusting Journal Entry in the normal manner to the period that was closed.
Steps To Execute
Role: Kimray Controller Rerun the Create Period End Journals month end close process: Go to Setup ; Accounting ; Manage G/L ; Manage Accounting Periods. Click the Checklist icon for a period Click Create Period End Journals. Click Create Journals and check the box under Income Statement closing tab. This process will only create journals in the last period of the fiscal year. Click Submit. When the process completes click back to period close and click Mark Task complete. NOTE: Do not click "Create All Journals" button as this does not trigger the supplemental change in the P&L. The original period End Journals will be deleted by the system and two new Journal Entries will be created to represent the most accurate Net Income that will move to Retained Earnings.
Expected Results
Income Statement Closing Journals are deleted. New Period End Journal created ties to the Net Income on the P&L Adjustment Journal is appropriately reflected in the new Net Income amount.